SB ii3 Feb 2019 10:10
Fozz, on the Fiduciary case I would say 80-20 in FRR favour (from what we know). Hence this is why I have been preemptively mulling on what could Hope’s defence be. Plus add the granting of the Discovery Order in the Californian District Court and the assertion of ‘illegal interference and you have a strong case. Plus we shouldn’t forget the company’s recent track record on litigation. Finally, must remember that it is FRR who have brought the case against him so they must have accumulated some evidence to bring this claim?
Yes, the Shorters must be as worried (if not more) than the longs. Relisting is in the open Market now and hence IG reducing the cash margin to 50%.
Now, ask yourself if a new O&G company was to float on AIM sitting on on a huge onshore deposits of oil &natural gas on the doorstep of Europe, and had already spent inexcess of $400m in the field, plus was in discussions with Super Majors, what initial market value would you ascribe? What we don’t know what the three oil wells are producing. Finally, the new $60m loan could also make a huge difference to the opening Market cap.
Anyway you look it, February is going to be a telling month.